What Is The Best Business To Start From Home?

In this post you will learn about the criterion that you can use in order to decide, ”what is the best business to start from home?”

By using this criterion you will save yourself time, money and learn how to tell if a business opportunity will be worth your while before making any king of investment in it.

I recently had the privilege to attended a business meeting in which a really successful business owner was the keynote speaker.

He quoted from the letters of Richard Russell who wrote the 12 points of an ideal or perfect business.

When evaluating a business opportunity to pursue from home, you will be wise to measure it against these points so that you can effectively qualify a business opportunity that will likely lead to success.

The 12 Points Of An Ideal or Perfect Business

1. SELLS TO THE WORLD

The ideal business sells to the world, rather than a single neighborhood or a single city or state. In other words, it has an unlimited global market.

2. INELASTIC DEMAND

The ideal business offers a product which has an ‘inelastic demand’. ‘Inelastic’ refers to a product that people need or desire – almost regardless of price.

3. UNIQUE PRODUCTS

The ideal business produces a product which is difficult (or almost impossible) for a competitor to copy or reproduce.

This means the product is an original (such as a publication) or it requires very special know how, or it produces a product which is protected by copyright or patent.

4. LOW LABOUR REQUIREMENTS

The ideal business has low labor requirements; the fewer people needed the better. Today’s example of this is the much talked about ‘virtual corporation’.

The virtual corporation may consist of an office with three executives, where literally all manufacturing and services are farmed out to other companies.

5. LOW OVERHEADS

The ideal business has a low overhead; it does not need an expensive location, it does not need large amounts of electricity, advertising, legal advice, high-prices employees, big inventory, etc

6. LOW INVESTMENT

The ideal business does not require huge cash expenditures or large investments in equipment. In other words, it does not tie up your money in capital.

7. CASH BILLINGS – C.O.D.

The ideal business is a business that has cash billings. In other words, it does not tie up your capital with lengthy or complex credit terms, etc.

8. REGULATION FREE

The ideal business is relatively free from all kinds of government and industry regulations and structures.

9. PORTABLE

The ideal business is portable or easily movable. You can put it anywhere you want in the world: Australia, the USA, Great Britain, New Zealand, China, Indonesia, etc.

10. YOU LOVE IT

Here’s a crucial but often overlooked one; the ideal business is one that keeps you fascinated, you love it, it requires your full intellectual (and often your emotional) energies.

There’s nothing like being fascinated with what you’re doing.

11. CONTINUING NEED

The ideal business sells a product which fits a continuing human (or animal) need. It’s not a fad product, it’s not a product which people can easily substitute or even do without.

12. FREE TIME

Another important one: the ideal business leaves you with free time. In other words, it doesn’t require your labor and attention 12, 16, 18 hours a day.

Three (3) additional points might be added into this list as follows:

13. A PROVEN SYSTEM

A system with a proven track record on which to structure the building of your business.

The system might make use of cds, books, meetings and other forms of technology (seminars, webinars, online training, away weekends, etc), etc, to assist its associates with building their businesses.

14. TAXATION BENEFITS

The expenses of the business can be negatively geared against your primary income when determining your tax each year, provided the relevant Tax Office requirements, etc, are met.

15. TIME LEVERAGING

A lot of people each doing a little. J. Paul Getty has been quoted as saying: “I’d rather have 1% of the efforts of 100 men, than 100% of my own efforts.”

By using these points to qualify a business opportunity, you will save yourself a lot of time, effort, money and energy.

You be in a position to quickly identify the business opportunities that are most likely to bring you positive results in 2018 and beyond.

My Challenge To You

Now that you have a criterion which you can use to decide, “what is the best business to start from home”, I challenge you to look at my review of Wealth Affiliate and measure the Wealthy Affiliate opportunity against these 15 points and let me know how it measures up.

I think you will be pleasantly surprised.

Zola Ngqisha

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10 Comments

Hello Zola, this is a really thought provoking article. I am appreciative of how step by step you educated us on this. I liked the term inelastic. Something to think about. Are we giving our readers an inelastic experience? How would you explain that? In peace and joy, ariel

Hi Ariel. Thanks for your comment. The term inelastic is an economic term which refers to the degree of responsiveness in demand quantity with respect to price. In other words if demand is very inelastic, then large changes in price won’t do very much to the quantity demanded. Therefore, an inelastic product will continue to be consumed regardless of the movements in price. As such, in order to have a sustainable business we need to as far as possible promote goods that have an inelastic demand.

You’re article has really opened my eyes today. I have been looking for a way to start my own business online. However, I just have no idea on how to go about it, and even where to start from. So I was glad when I read this post about the best business to start of this year. In actual fact. I have personally decided to quit my regular 9 to 5 job and start my own business this year, it was good thing reading this blog.

I really like that fact that you mention that ideal business sells a product which fits a continuing human (or animal) need. It really shows that to be successful in any online business, I need to look at a product that is in very high demand all the time. Yes, One that is profitable

I’m going to start now and I will check your recommended program, – Wealthy Affiliate even as you said and see how it will help me with this business journey of mine.

Hi Stephen. Thanks for taking the time to read this post and for your insightful comment. I commend you for being an action taker by checking out my recommended program. I’m most certain that you’ll come back and thank me. I look forward to seeing you on the inside.

These considerations are all important when one is trying to evaluate home business opportunities. You mention Wealthy Affiliate which I have found to be an excellent place to learn everything one needs to be successful in their home business venture. Like you I highly recommend Wealthy Affiliate as a good starting point. It is free to check out so what can be better than that? And if a person thinks it is what they are looking for it is very affordable to join in order to get even more benefits and classes to take,

Zola, this article was packed with great information. There are so many points that really hit home for me, such as a business that has a continuing need, low price points, low overhead. All of the points in your post are essential for a thriving business…and most of all to love what you are doing. Absolutely!

Zola,
There really is so much to consider when starting a home based business.You made a lot of valid points. I especially like the point where you said sell to the world. It makes sense. When you do this, you are not limiting yourself to a small market, but you are opening up your prospects to many more people.